The police were clearly working some sort of high profile operation. Street duty cops don't carry MP5 submachine guns on a daily basis. Something important was going on (drug bust, maybe? Or a manhunt?)
The owner of the dog was verbally antagonizing the police, going as far as to say something that commented on how come all the police were white and none were black. He's calling the cops racist when he is the only one being racist in the situation.
The owner of the dog was blasting music from his car, which is not only a violation of traffic law, but is also an impairment to the cops and their ability to communicate clearly with each other.
The police officers most likely would have told the guy plenty of times to [basically] beat it from the scene. Instead, the owner chose to stay and be buff to prove whatever moot point he was trying to make.
Eventually the owner turned to put his dog back in the car so it's safe to assume the police had told him yet again to leave. Here, we can hear the owner complain about a violation of rights. What rights he's talking about, I'm not sure. But though we have a right to be where we want to be, it's just stupid to remain at an active police scene that might not be safe.
After putting the dog back in the car, instead of leaving the owner went and approached the cops in a "COME AT ME BRO" manner. He had his chance to leave, and instead chose to stay and antagonize some more. The police DETAINED him (which is different from being arrested), and were about to put him in a squad car, most likely until the operation was over.
The dog then started barking and jumped out of the car it was in, no doubt coming to the aid of its owner. At this point, a third cop comes in to try and calm the dog down. The dog makes a few lunges at the police officer's arm as the officer tries to get a hold of the leash to control it. A final lunge that would have contacted the officers arm was made, and this is when the cop shot the dog in self defense.
Before you run to the owner's side and claim that he was not at all at fault, he had MANY opportunities to vacate the scene, but instead chose to remain. While the dog shooting was unfortunate, it could have been avoided if the owner just left. Was the shooting a necessity? Maybe not. Could the cop have drawn a taser instead? Well, what are the effects of tasers on animals? Would the shock have killed the dog anyway, seeing as tasers are primed to take down grown men as heavy as 250lbs?
Again, think about who is at fault here: an arrogant, disruptive citizen or police officers doing their job. Remember, the police didn't shoot first and ask questions later. They gave the man MANY chances to stop and leave, but he didn't. The shooting of the dog was just collateral damage caused by its owner's hubris.